Estate Planning and Creating Joint Bank Accounts


BaskinFleece

BaskinFleece lawyer Jay FleecePitfalls of Joint Accounts– by Joseph W. Fleece, III

A common problem today in estate planning is the unintended consequences of joint bank accounts. Recently, a client called and told me that while he was at his bank, the account representative suggested that he should put his niece on his account so that she could pay his bills if something happened to him.

Luckily, this client was smart enough to call his attorney to find out if that was a good idea. I told him that he had already signed a durable power of attorney and that document would give his niece full power and authority to deal with his bank account, plus much more, if something happened to him. I then went on to explain what would have happened had he followed the advice of the young account representative.

Estate planning and joint accounts

I told him, based upon my experiences, the account representative…

View original post 307 more words

Advertisements

Posted on March 19, 2015, in Uncategorized. Bookmark the permalink. 1 Comment.

  1. Thank you for re-blogging one of our blogs at https://baskinfleeceblogdotcom.wordpress.com

    Here are some elder care and guardianship related videos you might find helpful:

    Laws that Protect the Elderly: https://youtu.be/FPU4BDY0Y-A

    Guardianship Litigation: https://youtu.be/1KeutBFWFJM

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: